Greenlane’s $70M BERA treasury ends Q2 valued at $16M
Greenlane’s $70M BERA treasury ends Q2 valued at $16M
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Greenlane reported a substantial noncash valuation loss of $19.1 million, attributing it to a nearly 76% year-to-date decline in the price of BERA, a token held in its treasury. This price drop caused the company's BERA treasury to decrease in value from an initial $70 million to $16 million by the end of Q2.
Greenlane recorded a $19.1 million noncash valuation loss as BERA’s price fell nearly 76% year to date.